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Mortgage Banking Activities (Tables)
9 Months Ended
Sep. 30, 2024
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 September 30, 2024December 31, 2023
 Unpaid Principal Balance/
Notional
Fair ValueUnpaid Principal Balance/
Notional
Fair Value
Residential mortgage loans held for sale$94,473 $94,067 $56,922 $56,457 
Residential mortgage loan commitments70,102 1,958 34,783 1,379 
Forward sales contracts109,000 (531)75,448 (901)
  $95,494  $56,935 
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 Three Months Ended
September 30,
Nine Months Ended
September 30,
 2024202320242023
Production revenue:  
Net realized gains (losses) on sale of mortgage loans$2,085 $(1,631)$6,449 $(3,658)
Net change in unrealized gain (loss) on mortgage loans held for sale
(190)(522)59 (648)
Net change in the fair value of mortgage loan commitments13 (288)579 487 
Net change in the fair value of forward sales contracts(345)554 370 1,015 
Total production revenue (loss)1,563 (1,887)7,457 (2,804)
Servicing revenue16,809 15,243 48,510 45,668 
Total mortgage banking revenue$18,372 $13,356 $55,967 $42,864 
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (dollars in thousands):
 September 30, 2024December 31, 2023
Number of residential mortgage loans serviced for others125,104 115,967 
Outstanding principal balance of residential mortgage loans serviced for others$22,084,578 $20,382,192 
Weighted average interest rate3.70 %3.64 %
Remaining term (in months)277280
Activity in Capitalized Mortgage Servicing Rights [Table Text Block]
The following represents activity in capitalized mortgage servicing rights (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Beginning Balance$333,246 $304,722 $293,884 $277,608 
Additions3,842 3,154 10,812 9,757 
Acquisitions3,334 2,669 34,755 33,807 
Change in fair value due to principal payments(8,049)(7,202)(21,508)(21,031)
Change in fair value due to market assumption changes(16,453)8,039 (2,023)11,241 
Ending Balance$315,920 $311,382 $315,920 $311,382 
Assumptions to Value Mortgage Servicing Rights [Table Text Block]
Mortgage servicing rights are not traded in active markets. Fair value is determined by discounting the projected net cash flows. Significant market assumptions used to determine fair value based on significant unobservable inputs were as follows:
 September 30, 2024December 31, 2023
Discount rate – risk-free rate plus a market premium8.92%9.72%
Prepayment rate – based upon loan interest rate, original term and loan type
7.46%7.34%
Loan servicing costs – annually per loan based upon loan type:
Performing loans
$73 - $94
$69 - $94
Delinquent loans
$150 - $500
$150 - $500
Loans in foreclosure
$875 - $8,000
$875 - $8,000
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life
3.63%3.90%
Primary/secondary mortgage rate spread
115 bps105 bps
Delinquency rate
2.09%2.06%